SCHEDULE 13G

CUSIP No.

783513203

Names of Reporting Persons

HSBC HOLDINGS PLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 122,187,493.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 122,187,493.00
8	Shared Dispositive Power 0.00

Aggregate Amount Beneficially Owned by Each Reporting Person

122,187,493.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

11.3 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person: The information set forth herein regarding percentages of beneficial ownership is based upon information obtained from the Issuer (as defined below) regarding the 1,080,975,095 Ordinary Shares (defined below), underlying American Depositary Receipts disclosed as outstanding as of December 31, 2024 by the Issuer in the Form 6-K filed with the Securities and Exchange Commission on January 02, 2025.

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

RYANAIR HOLDINGS PLC

(b)

Address of issuer's principal executive offices:

Item 2.

(a)

Name of person filing:

HSBC Holdings plc

(b)

Address or principal business office or, if none, residence:

8 Canada Square, London E14 5HQ, United Kingdom

(c)

Citizenship:

Incorporated in England with limited liability

(d)

Title of class of securities:

Ordinary Shares, par value with 0.6 euro cent per share

(e)

CUSIP No.:

783513203

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

122,187,463

(b)

Percent of class:

11.3%

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

122,187,493

(ii) Shared power to vote or to direct the vote:

(iii) Sole power to dispose or to direct the disposition of:

122,187,493

(iv) Shared power to dispose or to direct the disposition of:

Item 5.

Ownership of 5 Percent or Less of a Class.

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.

HSBC Continental Europe has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Ordinary Shares covered by this Statement that may be deemed to be beneficially owned by the Reporting Person. Such interests of Ryanair Holdings plc relates to more than 5 percent of the class of Ordinary Shares.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.

HSBC Global Asset Management (UK) Limited HSBC Bank plc HSBC Continental Europe INKA Internationale Kapitalanlagegesellschft mbH Dusseldorf

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

HSBC HOLDINGS PLC

Signature:	/s/ Aileen Taylor
Name/Title:	Aileen Taylor/Company Secretary
Date:	02/03/2025